MTRX vs NPKI: Correlation
How closely do Matrix Service Company (MTRX) and NPK International Inc. (NPKI) trade together? Their weekly returns over three years give a correlation of 0.49, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTRX and NPKI?
Over the past 3 years, MTRX and NPKI moved with a correlation of 0.49, which is moderate. Recent behaviour matches the longer record: 0.46 over 1 year against 0.49 over 3. Over 5 years the correlation is 0.45, and the annualized covariance of weekly returns is 1030.0 %².
Few assets follow MTRX as closely as NPKI, which ranks #1 of 12 tracked partners. Their recent paths diverged sharply: over the last 12 months NPKI outperformed by 60.6 percentage points (-29.0% for MTRX against +31.6% for NPKI).
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
MTRX vs NPKI: side by side
| MTRX (Matrix Service Company) | NPKI (NPK International Inc.) | |
|---|---|---|
| 1-year return | -29.0% | +31.6% |
| 5-year return | -3.9% | +429.3% |
| Volatility (ann.) | 51.6% | 41.0% |
| Beta vs S&P 500 | 1.13 | 0.88 |
| Max drawdown (3Y) | -36.0% | -42.1% |
| Market cap | $0.3B | $1.2B |
| P/E (trailing) | – | 28.8 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MTRX | NPKI |
|---|---|---|
| 2022 | -17.3% | +41.2% |
| 2023 | +57.2% | +60.0% |
| 2024 | +22.4% | +15.5% |
| 2025 | -2.3% | +55.4% |
| 2026 | -6.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTRX and NPKI good diversifiers for each other?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between MTRX and NPKI?
Using weekly returns as of 2026-08-27: 0.49 over 3 years, with 0.46 over the last year and 0.45 over 5 years.
Is NPKI a good diversifier for MTRX?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.49 mean?
A reading of 0.49 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mtrx-vs-npki.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mtrx-vs-npki/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MTRX correlations · NPKI correlations
